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Auctions

1957 Porsche 356A Cabriolet is up for auction

Between 1955 and 1959, Porsche produced a second version of its first production car, the 356A. It was offered in two body types, Type 1 and Type 2, and 21,045 cars left the production line. One of them, a 1957 Porsche 356A Cabriolet is up for auction.

This 356A Cabriolet is powered by an aftermarket 1.6-liter flat-four engine (number P73193), mated to a four-speed manual transmission that sends power to the rear wheels. It sits on 15″ ventilated steel wheels with chrome hubcaps wrapped in 165SR15 Dunlop SP 4N Steel tires.

The car was completely renovated under the previous ownership, and is painted black. It is equipped with a driver-side mirror, a single engine-lid grille, body-color bumpers, and a replacement black soft top under a matching boot.

Inside, black leather covers the fixed-back bucket seats, door panels, rear bench and upper dash. In front of the driver are a wood-rimmed steering wheel and a five-digit odometer showing 5,985 miles (total mileage unknown). Additional equipment includes a passenger-side grab handle, lap belts, a Blaupunkt AM/FM radio, Coco Mats, and Kenwood speakers. The car is offered with literature and a clean California title in the owner’s name.

The auction ends on August 28th and the highest bid at the time of writing was $11,000 USD.

Source: Bring a Trailer

Gallery:

1957 Porsche 356A Cabriolet is up for auction
News

Mercedes is reducing production of its S-Class

The German automobile industry is currently in a tough situation, and reduced demand for some models is forcing manufacturers to make difficult decisions. Mercedes has announced that it will reduce production of its S-Class.

Automakers are facing major challenges, battling China’s ongoing price war in the automotive sector, particularly in high-end models, and the high development costs associated with new technologies and electrification. The decision to reduce production is something that was expected, and according to a Mercedes spokesperson, the transition to single-shift work is set for the last quarter of this year. This will affect nearly 1,500 employees, some of whom will be redeployed to other production sectors at the Sindelfingen plant.

In Q2, Mercedes sold just 33,400 cars from its S-Class (EQS, EQS SUV and GLS), which is a drop of 25 percent compared to 44,200 cars sold in the same period last year. The biggest decline was recorded in the markets of Europe (-27 percent), USA (-19 percent) and China (-13 percent). Also, the share of these premium segment vehicles in total sales fell from 16 percent to 14 percent, which contributed to the reduction of the profit margin in the company’s automotive business from 13.5 percent to 10.2 percent.

It is currently unknown if and when two-shift operations will return to Factory 56. Broader industry trends, including Audi’s consideration of closing its Brussels factory due to slow sales of the Q8 E-tron, suggest the luxury electric vehicle market is facing a broad widespread challenges.

Source: Mercedes-Benz

News

EU reduced tariffs on vehicles produced in China

Last year, the European Commission launched an investigation into the privileged position of electric vehicles produced in China due to subsidies. This resulted in the introduction of additional tariffs on vehicles manufactured in China (37.6%), and manufacturers that cooperated during the investigation paid lower tariffs (20.8%). However, the EU decided to reduce tariffs on some car manufacturers like Tesla from 20.8% to just 9%.

After reviewing the business report for July, it was determined that Tesla received less government aid than other firms that make cars in China, so the EU agreed to reduce the tariff. However, this did not mean that the tariff would be removed completely as the company was found to still be getting batteries below market value, which is one of the ways car manufacturers receive help from China. Other ways to help are cheap land, grants and loans at lower rates. This still gives them an advantage over cars made by companies in other parts of the world.

Also, some other car manufacturers will now pay lower tariffs, such as the British brand Mini. Although the company refused to cooperate in the investigation, the EU still decided to reduce tariffs on their vehicles from 37.6% to 21.3%. The tariff was also reduced on the vehicles of some Chinese companies: BYD (17.4 to 17 percent), Geely (19.9 to 19.3 percent), and SAIC (37.6 percent to 36.6 percent).

Source: Reuters